Where do the rich and wealthy live in Chicago?

[MichiVegas]

Originally Posted by Chi-town Native

...and smart people in Chicago have long known that the trick is to have a very underwhelming house from the outside so that you aren't a magnet for robbers coming inside.

Eh, all this said, I think everyone is exaggerating and most rich people live in nice houses in fancy areas, not Mt. Greenwood.

The people I know with significant net worths do not live in bungalow neighborhoods or studio apartments, and I think the data would bear this out. Mt. Greenwood would be one of the last places I would go looking for if looking for if I want people with 8-figure assets.

[marothisu]

Originally Posted by MichiVegas

Eh, all this said, I think everyone is exaggerating and most rich people live in nice houses in fancy areas, not Mt. Greenwood.

The people I know with significant net worths do not live in bungalow neighborhoods or studio apartments, and I think the data would bear this out. Mt. Greenwood would be one of the last places I would go looking for if looking for if I want people with 8-figure assets.

The point is that just because you have money doesn't mean you have to go around flaunting it and telling the world about it. There's a lot of people out there who are loaded and you'd never know it because they don't have a low enough self esteem to think they have to impress everybody and their mom. I never said all rich people are like this - but there's a lot and I've been fortunate enough to know a large handful of wealthy people who live very modest lifestyles. Or they may own a decent condo, but not one where you have to be wealthy to own. I also have wealthy friends and family who DO flaunt it in a way (big house/condo, staying in ultra luxe hotels, exotic 1 month vacations, etc), but you know what the point is. The only people who think that rich people only live in expensive homes and drive expensive cars are people who aren't actually friends with many well off people and think that what they see on TV is how all of them act.

[Carson9]

Originally Posted by marothisu

The point is that just because you have money doesn't mean you have to go around flaunting it and telling the world about it. There's a lot of people out there who are loaded and you'd never know it because they don't have a low enough self esteem to think they have to impress everybody and their mom. I never said all rich people are like this - but there's a lot and I've been fortunate enough to know a large handful of wealthy people who live very modest lifestyles. Or they may own a decent condo, but not one where you have to be wealthy to own. I also have wealthy friends and family who DO flaunt it in a way (big house/condo, staying in ultra luxe hotels, exotic 1 month vacations, etc), but you know what the point is. The only people who think that rich people only live in expensive homes and drive expensive cars are people who aren't actually friends with many well off people and think that what they see on TV is how all of them act.

Yes, agreed. But the question was where the "rich" and "wealthy" live in Chicago. I am not denying there are people with money in Mt Greenwood. But if someone is asking which neighborhoods the rich live in Chicago, Mt Greenwood would not be one of them. Those who are "rich" in Mt Greenwood are in the minority, I assure you.

[marothisu]

Originally Posted by Carson9

Yes, agreed. But the question was where the "rich" and "wealthy" live in Chicago. I am not denying there are people with money in Mt Greenwood. But if someone is asking which neighborhoods the rich live in Chicago, Mt Greenwood would not be one of them. Those who are "rich" in Mt Greenwood are in the minority, I assure you.

Sure they are in the minority, but they exist in many areas of town whether you know it or not. Theaster Gates is probably worth a handful of million dollars, or at least he is when you count what he's purchased around town and what not, but he still lives in Greater Grand Crossing. Jesse Jackson Jr? South Shore (well, formerly). I'd bet there's some wealthy people in Bronzeville now and around there.

Obviously the obvious choices have been already touched - Loop, River North, Streeterville, Gold Coast, West Loop, South Loop, and then parts of Lakeview, Wicker Park, Bucktown, Hyde Park, parts of Kenwood and Beverly. Increasingly areas like Logan Square and Ukrainian Village now - bunch of expensive homes going up or ones that have gone up in UK Village that are worth close to or over $1 million.

[Peer79]

Originally Posted by MichiVegas

Eh, all this said, I think everyone is exaggerating and most rich people live in nice houses in fancy areas, not Mt. Greenwood.

The people I know with significant net worths do not live in bungalow neighborhoods or studio apartments, and I think the data would bear this out. Mt. Greenwood would be one of the last places I would go looking for if looking for if I want people with 8-figure assets.

A relative of mine, who does have 8-figure assets, lives in the blue-collar bungalow neighborhood of Elmwood Park. I have seen his financial statements when he applied for a loan, this is not just me saying "that guy is loaded." People generally know he is well off, but not the extent of it. He drives a $20,000 car, does not dress very nice, and is comfortable with his possessions. He grew up poor and is self-made, so I imagine it feels like more than enough to him.

Conversely, there are some who drive a couple of BMW's and own a fancy house in Northbrook replete with fancy things. They are heavily leveraged and live beyond their means.

I am not saying either case is the norm, but things are not always what they seem.

[marothisu]

Originally Posted by Peer79

I am not saying either case is the norm, but things are not always what they seem.

Go to LA or Miami if you want to see that - there are some people who are so into their image of what car they drive that they have a luxury car and are basically homeless.

[MichiVegas]

Originally Posted by Peer79

A relative of mine, who does have 8-figure assets, lives in the blue-collar bungalow neighborhood of Elmwood Park.

I don't get the point of these random anecdotes.

Yeah, we get that not 100% of rich people all live in the same place. We are obviously talking IN GENERAL. Yes, there is probably some millionaire in Gary and someone on food stamps living in Winnetka. Who gives a crap; we are talking general trends, not random exceptions to the rule.

[Carson9]

Originally Posted by MichiVegas

I don't get the point of these random anecdotes.

Yeah, we get that not 100% of rich people all live in the same place. We are obviously talking IN GENERAL. Yes, there is probably some millionaire in Gary and someone on food stamps living in Winnetka. Who gives a crap; we are talking general trends, not random exceptions to the rule.

Yes, thank you!!

I told my friend who lives in Beverly about the start of this topic. She was ROFL when she heard someone said Mt. Greenwood is where the rich and wealthy in Chicago live. We native south siders had a good laugh at that one.

[Bucktownbabe]

Originally Posted by jman07

Basically everywhere from downtown to the Northside.

That's a rather common misconception, particularly among non-natives who live on the North Side.